Valero Energy Corporation (VLO)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 11,858,000 | 15,690,000 | 2,130,000 | -1,579,000 | 3,836,000 |
| Total assets | US$ in thousands | 63,056,000 | 60,982,000 | 57,888,000 | 51,774,000 | 53,864,000 |
| Operating ROA | 18.81% | 25.73% | 3.68% | -3.05% | 7.12% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $11,858,000K ÷ $63,056,000K
= 18.81%
The operating return on assets (operating ROA) for Valero Energy Corp. has fluctuated over the past five years. In 2023, the operating ROA stood at 18.81%, showing a decrease from the previous year's figure of 25.83%. This decline indicates that the company's operating income generated from its assets decreased in 2023 compared to 2022.
Looking further back, in 2021, Valero Energy Corp. had an operating ROA of 3.68%, reflecting a significant improvement from the negative operating ROA of -3.05% in 2020. This suggests that the company's operational efficiency and asset utilization improved in 2021 compared to the prior year.
In 2019, Valero Energy Corp. reported an operating ROA of 7.12%, indicating a moderate return on its assets. Overall, the varying trends in operating ROA over the years could be attributed to changes in the company's operating performance, asset management, and economic conditions affecting the energy industry. Further analysis of the company's financial and operational factors is necessary to fully understand the drivers behind these fluctuations.
Peer comparison
Dec 31, 2023